More merchants will be introducing e-wallet and mobile payment applications to “side-step” credit and debit card surcharges.
The merchants are looking at vcash, Visa Checkout, Samsung Pay, Masterpass and MOLPay, among other e-wallet applications, to enable customers to enjoy cashless transactions without having to pass the surcharge to them.
Malaysia Retail Chain Association (MRCA) president Datuk Seri Garry Chua said its members were on track in offering cashless payment options.
“Most of our members have already adopted such payment systems for their sales,’’ he added.
Chua said the popularity of online shopping would help boost cashless payments, which would help spur retail sales.
“Cashless payments are also popular among foreigners as most of them prefer not to carry cash with most paying through mobile and e-wallet applications,” he said.
Chua said the national economy would greatly benefit from a cashless society.
“We need to keep up with the times, as more and more countries are adopting mobile app payments,’’ he said.
Asked to comment on merchants passing credit and debit card surcharges ranging from 2% to 3% to customers, Chua said this was not an accepted practice in MRCA.